Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned that governments could “squash” bitcoin in an inflationary crisis. Expecting more massive stimulus from the government, he said to “prepare for inflation.”
Michael Burry Shares His View on Bitcoin
American investor Michael Burry has warned that governments could “squash” bitcoin and even gold to protect their own currencies. Burry founded hedge fund Scion Capital and is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010.
In a series of tweets Thursday night, Burry wrote, “Prepare for inflation.” He expects more stimulus from the government to drive up prices, fuelling inflation, as the economy tries to recover from the coronavirus pandemic. He tweeted:
In an inflationary crisis, governments will move to squash competitors in the currency arena. $BTC #gold
Burry became famous after his billion-dollar bet against the U.S. housing bubble was